US and Israel underestimated Iran’s capacity for sustained asymmetric retaliation
Iran’s strikes beyond expected theatres have widened the war’s scope and risks
Diverging US-Israel objectives have removed any credible path to de-escalation
Energy disruptions, sanctions shifts, and supply shocks are reshaping global markets
The crisis is strengthening Russia and emboldening China amid US distraction
Rising oil prices and supply disruptions are weakening the rupee and fuel availability
With escalation continuing, prolonged instability remains the defining global risk